December 13, 2017 / 3:44 PM / 8 months ago

BRIEF-Hive Blockchain Announces Expansion In Sweden, Up To $100 Mln Financing

Dec 13 (Reuters) - Hive Blockchain Technologies Ltd :

* HIVE BLOCKCHAIN ANNOUNCES MAJOR EXPANSION IN SWEDEN, INCLUDING NEW BITCOIN MINING FACILITY, AND UP TO $100 MILLION FINANCING

* SAYS‍ EXPANSION WILL INCREASE HIVE’S ENERGY CONSUMPTION DEDICATED TO DIGITAL CURRENCY MINING TO 24.2 MW IN APRIL 2018​

* SAYS ENTERED INTO BINDING LETTER AGREEMENTS DATED DEC. 13 WITH GENESIS MINING LTD.

* SAYS ‍EXPANSION WILL INCLUDE DATA CENTRE IN SWEDEN WITH HARDWARE PROCURED, ASSEMBLED BY GENESIS FOR HIVE FOR CONSIDERATION OF ESTIMATED $34 MILLION​

* SAYS ‍EXPANSION TO INCLUDE THIRD PHASE OF CO’S GPU-BASED DATA CENTRE IN SWEDEN FOR CONSIDERATION OF AN ESTIMATED $22 MILLION​

* SAYS ‍PRIVATE PLACEMENT FINANCING OF UP TO C$100 MILLION, LED BY GMP SECURITIES, EVENTUS CAPITAL, WITH LEAD INDICATION OF C$50 MILLION RECEIVED​ Source text for Eikon: Further company coverage:

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